Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Community Bank N.A.

Community Bank N.A. increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,075 shares of the natural resource company’s stock after acquiring an additional 725 shares during the period. Community Bank N.A.’s holdings in Freeport-McMoRan were worth $897,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FCX. Bruce G. Allen Investments LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new position in shares of Freeport-McMoRan during the third quarter worth about $28,000. Webster Bank N. A. grew its holdings in shares of Freeport-McMoRan by 6,469.2% during the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after buying an additional 841 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth about $38,000. Finally, Orion Capital Management LLC purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at approximately $40,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus lifted their price objective on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Raymond James lifted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday. Bernstein Bank lifted their price objective on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Scotiabank cut their price objective on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Stock Up 2.0 %

NYSE:FCX traded up $0.97 on Thursday, reaching $49.21. The stock had a trading volume of 10,945,878 shares, compared to its average volume of 13,861,810. The company has a current ratio of 2.35, a quick ratio of 1.38 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $44.02 and a 200 day moving average of $40.14. The stock has a market cap of $70.59 billion, a P/E ratio of 43.26, a price-to-earnings-growth ratio of 2.20 and a beta of 2.04. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $52.42.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.